text:
A good deal better: pharmaceutical mergers and acquisitions11 October 2013
The global pharmaceutical sector continues to witness significant mergers and acquisitions activity, with 2,578 deals worth an estimated $109 billion already completed in 2013. Adefemi Adenuga, industry healthcare dynamics analyst at GlobalData, reports.
The pharmaceutical industry recorded significant mergers and acquisitions (M&A) activity in 2012 and the trend has continued in 2013, spurred by the need for pharmaceutical companies to plug the revenue gaps resulting from the patent cliff and intense generics competition.
Consequently, drug makers have resorted to M&As as a quick way to fix their dwindling revenues, innovation and product pipeline by gaining access to novel technologies and compounds, currently marketed products and markets.
So far in 2013, 2,578 deals totalling about $109 billion have been completed, with Q2 2013 witnessing the greatest amount of deals activity. The quarter saw the completion of 1,021 deals worth $59.8 billion, a noteworthy increase from 938 deals totalling $35.8 billion in Q1 2013. Figure 1 shows the trend of completed deals in the pharma industry from Q3 2012 to Q3 2013.
Venture capital funding continued to account for a significant percentage of completed deals in the industry, averaging 24.5%, while M&As and collaborations averaged 14.3% and 20.4%, respectively, over the past five quarters. The volume of completed M&As decreased marginally by 0.8%, from 123 in Q1 2013 to 122 in Q2 2013 - consistent with a gradual decline in the volume of completed M&As over the period from Q3 2012 to Q2 2013.
According to GlobalData, this potentially signifies a more cautious approach by large pharmaceutical companies towards bolt-on acquisitions, bearing in mind the pitfalls of inadequate post-acquisition alignment and synergy. Consequently, more companies are favouring relatively less risky options such as partnerships and collaborations. So far, in Q3 2013, only 86 M&As worth $13.4 billion have been completed.
Figure 2 shows the trend analysis of deals completed in the pharmaceutical industry from Q3 2012 to Q3 2013.
North America continues to dominate deals in the pharmaceutical industry, making up close to 54% (1,816) of all deals completed so far in 2013. In Europe and Asia-Pacific, 700 and 526 deals respectively have been completed in 2013; deals in these regions grew by 10.4% and 16.3% respectively in Q2 2013. South and Central America also witnessed a 7.7% growth in completed deals in Q2 2013, as pharmaceutical companies continued to flock to emerging markets to drive sales.
Figure 3 shows the breakdown of completed deals in the pharmaceutical industry so far in 2013 by region.
Perrigo acquires Elan for $8.6 billion
On 29 July 2013, Ireland-based Elan agreed to be acquired by US-based Perrigo in a cash-and-stock deal worth $8.6 billion (including Elan's current cash balance, which was over $1.9 billion at the end of June 2013).
Under the terms of the deal with Perrigo, Elan's shareholders will receive $16.50 per American depository receipt (ADR) in cash and shares, 10.5% above the $14.93 closing price of the company's ADRs on 26 July, 2013. This translates to $6.25 in cash and 0.07636 of a Perrigo share for each ADR.
GlobalData believes the allure of a lower tax rate in Ireland is one of the drivers of Perrigo's acquisition of Elan. Furthermore, Perrigo will benefit from royalties resulting from Tysabri (natalizumab), Elan's only marketed product, which was sold to Biogen in February 2013.
Ireland, with a corporate income tax rate of 12.5%, has recently emerged as a market of interest for multinational companies aiming to increase profitability. For companies such as Perrigo, which are involved in the low-margin generics business, margins take on an added importance.
Already, Perrigo has announced that the combined company will be based in Ireland after the completion of the deal. Consequently, the company's corporate income tax rate is expected to decrease significantly from the current rate of about 30%. Perrigo also expects to save over $150 million in annual taxes and operational expenses due to this deal.
Perrigo, which generated total revenues of over $3.5 billion in its financial year ending 30 June 2013, will benefit significantly from Elan's Tysabri, despite the transfer of the drug's marketing rights to Biogen.
Tysabri is a humanised monoclonal antibody (mAb) against the cell adhesion molecule a4-integrin, which was approved by the US Food and Drug Administration (FDA) in 2004 to treat multiple sclerosis (MS). Despite being withdrawn shortly after launch due to being linked with progressive multifocal leukoencephalopathy (PML) when administered in combination with interferon ß-1a, it was reintroduced in 2006 after the FDA determined that its clinical benefits outweigh the associated risks. The drug is also indicated for Crohn's disease.
In addition to the $3.3-billion upfront cash payment made by Biogen, Elan will receive royalties on all future global net sales of Tysabri - 12% during the first 12 months following the completion of the deal, 18% thereafter on annual global net sales up to $2 billion and 25% on annual global net sales above $2 billion.
GlobalData's estimation of the net present value of both the upfront cash payment and royalty sales from Tysabri for the MS indication over the next ten years totals about $4.3 billion. Therefore, the drug will be a welcome addition to Perrigo's current product portfolio.
Furthermore, Perrigo could potentially generate revenues from ELND005, Elan's developmental candidate, which is currently in phase II clinical trials for Alzheimer's disease and bipolar disorder.
Pharmstandard's $630-million acquisition of Bever Pharmaceutical
On 9 July 2013, Russian drug manufacturer Pharmstandard announced plans to expand its operations by acquiring Singapore-based Bever Pharmaceutical in a transaction that could be worth $630 million.
Pharmstandard's announcement came on the heels of the company's announcement of its decision to spin off its over-the-counter (OTC) business, weeks after rumours of the segment's potential $2.5-billion sale emerged.
The primary driver of Pharmstandard's decision to spin off its OTC business segment could be the segment's decline in revenues last year due to ageing brands and sales erosion by competition.
In 2011, OTC sales generated R15.5 billion ($510.4 million), accounting for about 37% of the company's total revenue for the year. However, the OTC business segment yielded R14.8 billion ($487.3 million) in 2012, accounting for 29.6% of the company's total revenue and 4.5% less than in 2011.
GlobalData expects Pharmstandard, which had a cash balance of about R8.7 billion ($260 million) at the end of 2012, to take on significant debt to fund its acquisition of Bever Pharmaceutical. Currently, Pharmstandard is minimally leveraged, with long-term loans of only R47.8m ($1.6 million) at the end of 2012.
Therefore, the company's decision to spin off its OTC business segment rather than sell, and to acquire Bever Pharmaceutical, potentially places some strain on its working capital, unless it raises funds through debt. There are indications, however, that the company could still opt to sell its OTC business segment instead of spinning it off.
Pharmstandard's acquisition of Bever Pharmaceutical would enable it to grow its business operations outside Europe, the only region where it currently has a significant presence. Consequently, Pharmstandard would be aiming to use its operations in the high-growth Singapore pharmaceuticals market as a beachhead for the rest of the Asia region.
This will possibly result in faster growth of the company's revenues, which increased by 20.7% to R51.4 billion ($1.7 billion) in 2012 from R42.7 billion ($1.4 billion) in the previous year.


text:
‘Not recommended for children’ is printed on every can of energy drink. So why do we allow under 16s to purchase them?
As part of Jamie Oliver’s ongoing campaign to combat diet related disease, he is calling on the government to put age restrictions on the sale of energy drinks to under 16s. He joins parents, academics, the National Education Union (the largest education union), teachers from Educating Yorkshire and Educating Essex, and many more to call for government action.
The label on every energy drink can specifically says ‘not recommended for children’, yet 69% of adolescents and 24% of children under 10 are drinking them in the UK.
In an episode of Friday Night Feast, which aired last night (Friday January 5) Jamie and Jimmy Doherty explore how energy drinks impact kids. They speak to a number of teachers, who describe the strain of teaching pupils who are under the influence of energy drinks. Teachers explain how they even devise back-up lesson plans, depending on whether the kids are on a ‘high’ or ‘crashing’.
Many schools have banned these drinks, but bans in schools aren’t enough. A study commissioned by the Scottish government found that 41% of 13 to 15 year olds buy a sugary drink, including fizzy drinks and energy drinks, off-site at lunchtime, despite bans inside the school gates.
Jamie Oliver says: “If the energy drink industry is literally telling us their products are ‘not recommended for children’ on the cans, why can kids as young as 10 buy them whenever they want? This consumption is compromising our kids, and our teachers, too – we have to do something about it. We urgently need the government to step up and put age restrictions on the sale of energy drinks to all under 16s.”
The evidence which shows the detrimental impact of energy drinks on a child’s health is growing every day:
- Energy drinks contain up to 16 teaspoons of sugar - more than twice the maximum daily intake for adults!
- 12% of UK children under 11 are drinking a 1 litre bottle in a single session.
- Young people in the UK consume more energy drinks on average than their EU counterparts (3.1 litres per month, compared with 2 litres).
- Many brands of energy drinks contain 160mg of caffeine per 500ml - a 10-year-old should not consume more than 99mg per day.
- Energy drinks retail for as little as 25p.
- Sales of energy drinks rose 155% between 2006 and 2014.4
With the mounting evidence, Jamie Oliver is calling for teachers everywhere and the public to make their voices heard. Tweet Secretary of State for Health @Jeremy_Hunt and your local MP, post, share, shout and tell your friends:
'Protect our children by tweeting @Jeremy_Hunt and put age restrictions on the sale of energy drinks to under 16s. #NotForChildren'

domain: news


text:
One in four companies will refuse to hire new employees in 2023
Many companies will switch more to retaining employees.
Study spent recruiting service Atsearch Group together with the SberHealth online service. The specialists decided to find out what strategy for regulating the staff of employees Russian companies have chosen for themselves. To do this, they interviewed HR directors and line managers in HR departments from different industries.
And the survey showed that 23% of companies have abandoned plans to hire employees in 2023. In April 2022, 81% of respondents had such plans, and only 58% had them for the next year. Active recruiting, according to researchers, will continue in IT, sales and manufacturing. They will also hire top managers – not only to replace, but also new leaders.
“The situation on the labor market is shortening the planning horizon and is seriously holding back hiring growth in 2022. That is why business is more focused on retaining and developing current employees and uses various non-material motivation tools for this,” says Elena Morozova, managing partner of Atsearch Group.
The offer of corporate medical insurance, psychological support and even additional days of vacation will help to retain employees. And on the little things: discounts on the company’s products, food compensation, etc. Experts are sure: “The importance of support and care in 2022-2023 will grow more than ever.”


text:
On Wednesday, Ripple grew by over 9 percent, coming within 10 cents of its all-time high.
An online translation of a release revealed that the said gains followed news that SBI Holdings, a Tokyo-based financial services company, and SBI Ripple Asia, its subsidiary, revealed the establishment of a “consortium” with various Japanese credit card companies in order to utilise blockchain technology. Ripple and SBI Holdings established SBI Ripple Asia in January of last year. It was not clear what the extent of the involvement of Ripple would be in the new consortium.
According to CoinMarketCap, the digital currency grew 9.2 percent to $1.30, making it the third-largest cryptocurrency in terms of market capitalisation at $50 billion, behind bitcoin and Ethereum.
The website revealed that on Friday, Ripple gained a record high of $1.38.
On the other hand, on Monday, Bitcoin and Ethereum were down.
Ripple is officially the name of a start-up that is based in San Francisco that is utilising blockchain technology in order to develop a payments network for digital asset exchanges, banks, and other financial institutions. Network participants utilise a digital coin that is called XRP for transactions.
The start-up holds 61 percent of the 100 billion XRP that is in existence. At the prices on Wednesday, that gives Ripple around $79.3 billion worth of the digital currency.
On Wednesday, Brad Garlinghouse, the Ripple CEO, said on the ” Squawk Alley” of CNBC: “We are going to invest in the ecosystem to both help accelerate the adoption of Ripple’s technology.”
One of the selling points of Ripple, as laid out on the website of the company is the 4-second settlement speed of the XRP, versus the more than 2 minutes for the Ethereum and over one hour for Bitcoin.
Up by over 20,000 percent after ending last year at 0.64 cents, Ripple is considered to be one of the best performing in 2017. In comparison, Bitcoin has gained around 1,500 percent and ethereum is up by roughly 9,200 percent in 2017, according to CoinMarketCap.
“One of the things we all have to remember is the value of a token over the long term is really going to be driven by its utility,” said Garlinghouse. “There’s no question there’s a lot of hype in this system.”
According to Crunchbase, Ripple has raised $93.6 million from investors including Standard Chartered Bank, CME Ventures, Andreessen Horowitz and Alphabet’s GV, formerly Google Ventures.
Mike Arrington, the founder of TechCrunch, also revealed at the end of last month that he is launching a “cryptofund” amounting to $100 million that will be denominated in XRP.
The news of a consortium with Japanese credit card companies on Wednesday follows an announcement that was made earlier this month that various South Korean banks and Japanese banks are testing the systems of Ripple for cross-border payments.
According to the company, over 100 financial institutions use the blockchain network of Ripple. In November, Ripple said that Santander and American Express FX International Payments would make use of the network of Ripple for cross-border payments between the United States and the United Kingdom.


text:
These are some of the images shortlisted for the world’s top photography competition.
Around 270 snappers from 60 countries around the globe have been whittled down from more than 230,000 entries for the Sony World Photography Awards.
Read More: Sony World Photography Awards: From the sublime to the bizarre - stunning images show off beauty of our planet
Shutterbugs will battle it out for the €22,000 prize and the Photographer Of The Year title.
Meanwhile, entrants in the amateur and student categories will be hoping their snap will bag them €4,500.
Read More: Orangutan mum pictured desperately clutching baby after surviving forest fire then almost being STONED TO DEATH by villager
The winners will be announced at a London ceremony in April.


text:
IKEA launches new durian-based treats this July
The new durian desserts at IKEA are available until Aug 31.
IKEA welcomes the durian season with the newly launched durian-based dessert series from Thursday (Jul 7).
The new dessert series includes treats such as the D24 Durian Cheese Tart ($3.50) which is a biscuit tart shell filled with creamy and pungent durian cheese centre as well as D24 Durian Puff ($3), a classic pastry rich in durian flavour.
For those who are looking to indulge in a durian dessert feast, the D24 Durian Cream Cake is also available in a full-sized version of 500g and it costs $29.90.
IKEA’s durian-based treats are available until Aug 31 at all IKEA restaurants from Monday to Thursday, excluding public holidays.


text:
By Cassie Hataway | email
LUBBOCK, TX (KCBD) - The Food and Drug Administration says the maker of Cheerios, General Mills, has gone too far in claiming that Cheerios can lower your cholesterol by 4% in just six weeks. That's what it says on the box and now the FDA has sent a warning letter to cheerios about it.
According to government rules, the claim on the box throws Cheerios into the category of a drug, not cereal. The government timing is somewhat odd, though, since that claim has been on boxes of Cheerios for more than two years.
©2009 KCBD NewsChannel 11. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


text:
PHOTOS: What's it look like? Inside a suspected meth smuggler's house
The Senate is taking up legislation that would allow the 45 states (and the District of Columbia) that charge sales tax to require online retailers to collect taxes on purchases made by their residents. If approved, the bill will move to the House.
Find out how the proposed "Internet sales tax" would affect your online shopping.
On the eve of the Boston Marathon, local runner Kecia Denk was getting some rest before the big race.


text:
Talent supporters gathered at the Sandton Convention Centre to experience the Meetings Africa 2024 on February 27 and 28.
Meetings Africa is a pan-African business and trade show that allows exhibitors from more than 20 African countries to showcase their products and services.
At the Vibrant Sustainability Village, a section at the Meetings Africa trade show, 20 sustainable brands put their works on display.
“The Sustainability Village is an iconic feature of Meetings Africa, and this year, it featured 20 proudly South African vendors,” said Bjorn Hufkie of the South African National Convention Bureau.
“Through the products at the sustainability village, we not only promote these businesses and contribute to our country’s economy, but we also invite guests to select a piece of South Africa to take back home with them.
“It is all part of ensuring that we tell an authentic South African story. It’s an integral part of what makes South African events truly stand out. We can’t imagine a Meetings Africa without this delightful marketplace in a conference setting.”
“The village serves as a lively marketplace showcasing the craftsmanship and entrepreneurship of local talents. Initiatives like the Sustainability Village extend market access for artisans, creating a lasting impact beyond the three days of the Meetings Africa show.”
Some of the brands displaying their wares included Afro Sheep, which specialises in bucket hats, jerseys and shoes.
Matangwa Creations and BEE.EK Ceramic unpacked pottery, while Okuhle showcased bar soap, bath bombs and body scrubs.
Journey on P.S Leather World and Tjiane Creations had a range of handbags, wallets and purses.
Eyitha Tours showcased clothes and African prints. Leehle’s Crocheria and Handmade by Tebogo each had a range of crocheted products like bags and jerseys, while Runako Naturals had hair products.
Season Creations Accessories and Icherryefresh displayed jewellery and Still Flame candles.
Great Eye Trading showcased African attire and Jst Pati Glas glass products. Snezar Pty (Ltd) had a range of beautiful watches. Also offering accessories was Noona Stylez. Gogaga had laser-cut artwork, Ezemvelo was all about skincare.
Afrofrocs put out clothing items.


text:
Tea Industry News for the Week of May 11.
- Tea & Tariffs
- Export Value of Tea Declined in 2019
- U.S. Consumers Remain Wary of Reopening
- Tea is Piling up
- Attend the SofaSummit on International Tea Day
Tea Export Value Declined in 2019
Logistical hurdles in tea producing countries greatly complicated export this quarter as demand declines and prices remain low. Recessions in Russia, Europe, and North America dim prospects of a profitable return for the export segment where sales have declined in value by an average 12.8% since 2015.
The declared value of global tea exports depreciated 18.8% year-over-year in 2019.
Sales from tea exports totaled only $6.4 billion in 2019, according to analyst Daniel Workman at World’s Top Exports. Tea shipments worldwide were valued at $7.3 billion five years ago.
China, at $2 billion in sales, remains the leading tea exporter, accounting for 31.8% of total exports by value, up 13.5% compared to 2018.
China faced several impediments to growth prior to the coronavirus outbreak but retained its rank as the top tea exporter globally in 2019. Green tea exports, the main tea crop, totaled 304,000 metric tons and were valued at $2.02 billion. The average price of exported green tea was $4.34 per kilo in 2019.
China’s tea exports were generally stable and of improved quality, despite the U.S.-China trade dispute and uncertainties in the world economy, according to agricultural and trade officials. Tea exports to the U.S. in 2019 were down 5.1% to 15,000 metric tons, but this was easily offset by a 15.6% increase in purchases by ASEAN nations. The 23,000 metric tons sold to ASEAN countries was valued at $400 million, up 55.7% compared to 2018.
China reported a 13.6% overall revenue increase year-over-year. Black tea exports were up 6.7% to 35,000 metric tons increasing in value by 24.5% to $350 million, according to China customs statistics. Black tea averaged $9.92 per kilo, up 16.72% year-on-year.
Yu Lu, vice president of the China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-Products (CFNA) said the average annual compound growth rate of exports was 3% during the past three years. Green tea accounts for 82.8% of the total volume, which topped 367,000 metric tons last year.
Trade with countries along the Belt and Road increased 4% last year, earning China $560 million, a year-on-year increase of 307%, according to Yu Lu.
India exported $803 million worth of tea in 2019, up 4.6% compared to the prior year. India set a production record in 2019 growing by 3.8% thanks mostly to smallholders, but while volume reached 1,390 million kilos, the country accounted for only 12.6% of tea exports by value.
Sri Lanka’s 11.3% market share by value and Kenya’s 5.7% share also contribute significant volume, but each saw steep declines in value as prices for cut, tea, curl CTC grades fell. During the past five years (2015-20), the value of Kenyan tea exports declined by 71.3%. During that same period, the value of tea sold for export by Taiwan increased 131.3%; sales of Japanese tea are up 59.6%, and the value of Chinese tea for export is up 46.5%, according to World’s Top Exports.
Selling to domestic consumers is appealing in China and Japan, where higher prices are the norm, but India may benefit most from increasing domestic consumption.
Tea & Tariffs
The economic impact of the pandemic makes it unlikely that China will meet the expectations of a “phase one” agreement negotiated with the U.S. in January. As a result, U.S. President Donald Trump said he might initiate another round of tariffs targeting China.
Or maybe, not.
“I’m very torn, I have not decided yet, if you want to know the truth,” President Trump told reporters last week.
On Friday, to keep what have been productive discussions on track, the U.S. Trade Representatives’ office released this statement: “In spite of the current global health emergency, both countries fully expect to meet their obligations under the agreement in a timely manner.”
In January, China agreed to a 2020 increase of $76.7 billion over 2017 imports. China has since purchased less than $25 billion of U.S. goods, which is a decline of 5.9% through April compared to 2019, reports Bloomberg. The 2020 goal is almost $200 billion in sales.
U.S. trade plunged in March. Overall the U.S. bought 6.5% fewer goods than during the same period in 2019. Imports of Chinese tea through March 2020 declined 23% compared to the same period in 2019, according to the Global Agricultural Trade System database (GATS). Lower sales are due, in part, to a 15% tariff imposed in September 2019. The duty was later reduced to 7.5% in February 2020, but by then, many blenders had switched suppliers. During the first quarter in 2019, the U.S. imported Chinese tea valued at $32 million, a total that declined to $24.7 million during the same period in 2020.
Volume is down 31% from 8.7 million metric tons to 6 million metric tons through March. China is predominately a green tea exporter, but volumes of every category slid, except organic flavored green tea.
Jason Walker, marketing director at Firsd Tea in New Jersey, the U.S. offices of China’s largest tea exporter, writes that while “U.S. imports of Chinese black tea have generally declined over the past five years. More recently, the U.S.-China trade war and coronavirus pandemic have contributed to this slowdown. However, organic black tea imports from China have been rising, with a 66% increase in volume.”
Since workers were able to return to the fields before April, tea production China was spared the pandemic-associated drop in yield experienced in India and Sri Lanka. Imports recorded during the first quarter include little of the spring harvest. Second-quarter statistics will be more revealing as they will reflect the logistical challenges that are still rippling through the supply chain.
“Firsd Tea has been watching the activity at U.S. ports for indications of delays and disruptions. We have not seen any to date,” writes Walker. “In terms of containers leaving China, we have not seen any disruptions since normal business resumed around the end of February in China. At this point, China operations have implemented monitoring systems and PPE (personal protection equipment) requirements for workers. We are watching for indications of flare-ups, but so far, we don’t see evidence of another wave of infection,” writes Walker.
Blenders initially found themselves racing to meet the demand for packaged goods, particularly private label for grocery, but orders for foodservice grades has virtually disappeared due to the unprecedented restaurant and retail tea closures. This alone will substantially reduce tea imports from every producing country.
Specialty tea importers receiving Chinese tea this spring say that demand remains steady despite a three-fold increase in airfreight, which is a far greater expense than the 7.5% tariff.
“Importers were working with a three-fold increase in air freight delivery in April. Rates are still high, but at least cargo is moving faster now,” writes Andrew McNeill with Seven Cups Fine Chinese Tea in Tucson, Ariz.
China recognizes the desirability of retaining a presence in the U.S. market as Europe is likely to experience a more severe recession than the rest of the world. The European Commission last Wednesday released projections that show economic activity shrinking by 7.4% in the 27-nation bloc, according to the New York Times. Economists predict the deepest economic recession in EU history.
While the U.S. administration is angry at China, the escalation of retaliatory measures challenges the prevailing business assumptions guiding American companies in China. U.S. companies invested $14 billion in new factories and other long-term investments in China last year, according to the National Committee on U.S.-China Relations and the Rhodium Group, a consultancy that tracks foreign direct investment flows.
Shawn Donnan, writing in Bloomberg Supply Lines, suggests, “it’s worth remembering every so often that it is still businesses and not governments that really make the decisions that drive globalization and supply chains and that they aren’t decoupling yet.”
Reenergize Local Consumption
Pradyumna Barbora, a specialty tea producer in Assam, points to a straightforward solution: Increasing average per capita consumption from 750 to 800 grams will “uplift the Assam tea industry,” he writes.
“If every tea lover in the country increases their consumption by a mere 50 grams per month, and starts sourcing their tea locally, the gardens will be able to meet their expected minimum wages whilst creating a better living environment for themselves,” writes Barbora, spokesman for Tea for Unity, a group of Assam planters. “We are losing focus on a high-quality heritage product which fetches much more and is more valuable than commercially mass-produced tea,” writes Barbora. The tea industry employs more than a million workers,” he explains, “Investment will improve the mindset of the workforce, translating into greater efficiency and quality.”
Learn more: Tea for Unity
Tea is Piling Up
Processed tea is piling up as demand declines, and transport is interrupted. Globally, warehouses usually empty by the start of the spring harvest. An abundance of tea stored in 2019 is compounding problems in India. Consider the 21 villages in Champawat, a tea-growing region where warehouses are bulging because drivers are not permitted to travel.
Tea, valued at INRs360,000 ($4,700), was ready to be sent for auction in April, “but we have not been able to transport it due to the lockdown. If the stock is not sent to Kolkata soon, those involved in tea plantation and its selling may face a financial strain,” Desmond Brikbeck, manager of several local tea gardens, told the Times of India.
U.S. Consumers Remain Wary of Reopening
Datassential continues its weekly series of webinars tracking consumer behavior during the pandemic. The COVID-19 series is free and hosted by managing director Jack Li, whose company pioneered the use of menu data to predict flavor trends.
The topic May 8 was “The Next Phase” (download PDF).
Reopening is underway led by Starbucks, which announced that 85% of its corporate stores would soon resume operations.
Li notes that concern has declined somewhat as some states reopen, “but America is still anxious, with slightly more than half of the people feeling very concerned and hugely worried about their own personal health.”
“Avoidance of eating out is steady, but down from a month ago with 55% of those surveyed saying they will “definitely avoid going out” and 27% saying they are “nervous but will still eat out.” The number of individuals reporting “no concerns whatsoever” increased to 18%, up 2% since April 27 but down 23% since March 10, according to Datassential.
Health remains the top concern, but economic worries are intensifying, according to Li, who found that 57% of respondents are more concerned about the public-health crisis (down 2% since April 27 and down 6% since April 10). Those who say they are most concerned about the economic crisis increased 2% from April 27 to 43% of respondents.
“Not much has changed in the past month. America is still at home and still longing to get back out,” writes Li. “People are excited to get back to activities like dinner and a movie, or lunch and shopping at the mall,” he said.
When asked: “Which of the following food & drink places or activities are you most excited to get back to?” 45% selected “dining at my favorite sit-down restaurant,” and 42% selected “visiting recreational places” with 39% longing to “meet family and friends at restaurants.”
Going to coffee shops (20%) and drinking at bars (19%) ranked in the middle. Visiting nightclubs, concerts, and lounges appealed to only 10%. Visiting cafeterias (5%) was the least exciting activity.
Editor’s note: Unemployment increased to 14.7% in April, the highest since the Great Depression. New claims topped 26.5 million during the five weeks ending April. The proportion of employed working-age adults (51.3%) is the lowest on record. Datassential found that 16% of survey respondents are still going to school or working as usual, with 16% stuck at home due to layoffs and furloughs. An additional 33% of those taking part in the weekly survey are working or attending school remotely, with 35% not working overall.
Next episode: “What Consumers Want Right Now.”
Attend the SofaSummit on International Tea Day
Thursday, May 21, is International Tea Day, a global event declared by the United Nations that will, for the first time, be celebrated in every county. The U.N. organized the event to elevate tea by drawing attention to “the importance of tea for rural development and sustainable livelihoods, and to improve the tea value chain to contribute to the 2030 Agenda for Sustainable Development.”
To celebrate, the Tea & Herbal Association of Canada, in coordination with many prominent industry leaders, is hosting an all-day tribute May 21, beginning at 9 a.m. through 7 p.m. EST. The tea and chat will “circumnavigate the globe,” spanning 14 time zones with participants from 13 countries. Watch on YouTube live – no registration required.
Shabnam Weber will host on THAC’s YouTube Channel: http://tiny.cc/gyqdoz
Click to learn more: International Tea Day.
Participants (in order of appearance) include:
Yu Lu, China Chamber of Commerce CCFNA
Rajah Banerjee, Makaibari
Arun Singh, Tea Vision
Ketan Patel, Jalinga Tea
Stephen Twining, Twinings
Alfred Njage, KTDA
Cindi Bigelow, Bigelow Tea
Gabriella Lombardi, Cha Tea Atelier
Joyce Maina, Cambridge Tea Academy
Will Battle, Fine Tea Merchants
Joe Panter, Camellia PLC
Ramaz Chanturiya, Tea Masters Cup (Russia)
Carolina Okulovich, Don Basilio
Rona Tison, ItoEn
James Norwood Pratt, Author
Jane Pettigrew, UK Tea Academy
Kevin Gascoyne, Camellia Sinensis
Jeff Fuchs, Tea Horse Road
Tania Stacey & David Lyons, Cuppa Cha & AUSTCS
Cecilia Corral, Tian Té Mexico
Fred Yoo, Myung Wong Cultural Foundation
*Corrected 9/13 to clarify this event was organized solely by the THAC.
Virtual Tea Tasting
The Ceylon Artisan Tea Association is hosting its third in a series of virtual tea tasting webinars. Amba Estate was featured on April 30. This week features Forest Hill Tea, which was recently profiled in Tea Journey magazine.
Click this link to join the meeting: https://us02web.zoom.us/j/9997849844
Meeting ID: 999 784 9844
The Zoom event begins at 5.30 p.m. Wednesday, May 13 in Colombo Sri Lanka (India|Asia) | 8 a.m. EST (New York) | 1 p.m. (London) | 2 p.m. (EU) | 8 p.m. (Singapore and Hong Kong) | 9 p.m. (Japan and Korea)
If you miss the live event, recordings of these webinars are available for viewing at no charge.
Enhance your well-being with tea. Tea Journey is a bridge connecting those who craft handmade teas in 35 countries with the growing number of premium tea consumers globally. Tea Journey educates readers not only in the selection and preparation of healthy whole leaf tea but also in the manufacture of authentic teaware and utensils designed to enhance the tea experience.


text:
RIO DE JANEIRO, BRAZIL - A flight from São Paulo to Rio de Janeiro takes approximately 50 minutes. By car, it takes no less than five hours. But a new means of transport, called the Hyperloop, pledges to cover the same route in less than 25 minutes.
The technology, created by billionaire Elon Musk, founder of electric car manufacturer Tesla, is being implemented in a number of countries and, according to the CEO of Hyperloop TT, one of the companies developing the project, it could reach Brazil in 2025.
"Brazil should figure in the second round of investments, scheduled for . . .


text:
As an important publishing platform of electronic information in the world, Japan high paid Technology Expo, fully known as combined exhibition of advanced technology (hereinafter referred to as CEATEC), has been developing for more than ten years with the joint efforts of Japan personal computer software association (jpsa), Japan Electronic Information Technology Industry Association (JEITA) and Japan communication information network industry (CIAJ), The exhibition has become the largest, largest and most cutting-edge world-class exhibition in the electronic field in Asia. Next, let's take a look with the top ten overseas activity planning companies!
On October 15, 2019, CEATEC opened at muzhang International Center in Chiba county. Many Japanese science and technology enterprises showed visitors 5g applications, Internet of things technology and artificial intelligence, and described the scene of "super intelligent society".
The theme of this exhibition is "connecting society and creating the future". Japan's major technology companies, including Kyocera, Mitsubishi Electric, Sony and Japan Electric Corporation, have brought their latest technologies. For example, Japan Electric Corporation showed you the latest technologies related to smart city, including artificial intelligence analysis technology, the latest face and fingerprint recognition technology and street lamps using 5g technology. Sony showed the latest medical technology products such as surgical microscope that can support high-definition three-dimensional imaging, and Mitsubishi Electric showed a concept car equipped with a variety of artificial intelligence assisted driving technologies.
In 2016, the Japanese government proposed to build the world's leading "super intelligent society" in order to enable people to enjoy higher quality services and convenient life through the maximum use of information and communication technology. Therefore, CEATEC, which originally focused on digital home appliances, has become a comprehensive exhibition depicting a "super intelligent society".
The above is the activity plan with rich foreign experience. The company introduces the relevant information of Japan High Tech Expo.


text:
Now that the iPhone has a built-in fingerprint sensor, users can easily secure their devices without the everyday use of a manually entered passcode. Before the Touch ID system can be used, you must set up the system with your fingerprint. To setup Touch ID on the iPhone:
iPhone Touch ID
With iPhone X pre-orders still weeks away, Face ID has yet to arrive in consumers' hands. This hasn't stopped renowned KGI analyst Ming-Chi Kuo from predicting Apple's next moves surrounding the technology. Despite the fact that Touch ID was only introduced four years ago, Kuo expects Apple to leave Touch ID in the dust starting in fall 2018.
Apple's fingerprint system Touch ID will store up to 10 individual fingerprints. You can add up to 9 more fingers after the initial setup by following these steps:
Designer Martin Hajek is at it again, posting 3D renderings of his latest iPhone 7 concept. Based on the most recent rumors and leaks, the concept highlights various new features, chiefly an updated colorway said to be in the works. Apple has released various shades of Space Gray over the years, and according to reports, the iPhone 7 will bring a darker variant that is closer to the Space Black Apple Watch.
What is Force Touch ID? According to a report from Cowen and Company, Apple may debut the technology on the iPhone 7 this fall. Force Touch ID would replace the home button with a capacitive touch sensor to unlock the device. The iPhone 7 concept from designer Yasser Farahi shown above includes a flush home button that avoids using any moving parts.


text:
It's a surprising move, given that Windows 8 and the Microsoft Surface are the company's biggest releases for some years. However, The Verge reports that sources within Microsoft found Sinofsky "abrasive and off-putting," focusing on Windows and Surface to the exclusion of other Microsoft departments.
Sinofsky has addressed the rumours head-on in a letter to Microsoft employees published on Winsupersite.com, stating that, "Some might notice a bit of chatter speculating about this decision or timing. I can assure you that none could be true as this was a personal and private choice that in no way reflects any speculation or theories one might read—about me, opportunity, the company or its leadership."
Nevertheless, the situation is strikingly reminiscent of Scott Forstall's departure from Apple in the wake of iOS 6's launch.
Julie Larson Green, former Corporate Vice President, Program Management, Windows Client, will take over Sinofsky's role as Windows engineering.
Given that Microsoft is working to integrate its products more closely together through projects like SmartGlass and the rumoured Xbox Surface and Surface Phone, it seems likely that Redmond will use the opportunity of Sinofsky's departure to strengthen the ties between different divisions. Here's hoping that means a more connected, Apple-like experience from Microsoft products.
[via The Verge]
You might also like
Virgin TV Anywhere takes on Sky Go from today


text:
The company says that the office is well placed to service its clients throughout the Asia Pacific region, together with providing support to its distribution network that is located throughout the region.
The new office is expected to be fully operational this month and will be headed up by Frederic Serres, who has 14 years of technical and sales experience in the field of cosmetics, particularly in his former position at Seppic, where he gained expertise in active ingredients.
Building on Induchem’s position in Asia Pacific
In his new position Serres will be in charge of Induchem’s distribution network throughout the Asia Pacific region, and will be responsible for further developing Induchem’s position in this growing market.
“Our company has been on an expansion fast track in the past few years. We have always been very close to our Asian customers, and we would like to further increase our level of support to our Asian distributors and key accounts in this region by providing a direct access through this office,” said Peter Schweikert, CEO of Induchem.
“The opening of this representative office in a geographical central place like Singapore is another significant step in the development of our business, and will reinforce our customer and partner intimacy model.”
Targeting the region’s anti-ageing and hair care categories
Induchem has carved out a name for itself in the active ingredients cosmetics market, and in Asia will be looking to further grow its foothold in the hair care and anti-ageing categories in particular.
In particular, the company says it is hoping to further promote a number of biotech-based ingredients, including anti-aging products Rubixyl and Neodermyl, together with hair care ingredient Redensyl – all of which have received innovation awards within the last two years.
The new sales office will be located at Tower 2, 1 Raffles Place, which is right in the centre of Singapore’s commercial district.


text:
You are here
Analysts still love this Chinese supplier to Nike and Adidas
SHARES of Shenzhou International Group Holdings Ltd, a Chinese manufacturer that is a top supplier to Nike Inc and Adidas AG, appear expensive when compared to its domestic peers. But analysts say the valuation premium is well deserved.
The optimism is partly driven by Shenzhou's strategy to boost investments in automation as well as spending on more research and development, which have resulted in a widening of its profit margin to near record highs. Investor faith in Shenzhou's outlook is also reinforced by its position as the country's largest maker of knitwear, as smaller manufacturers lose market share, amid a likely shakeout from growing trade tension with the US.
Jessica Fei Ye, an analyst with Jefferies Hong Kong Ltd, said: "Shenzhou can deliver faster than its competitors, so that's why they can take market share." Shenzhou is slowly gaining more of Nike's apparel business, she said; it took 13 per cent of Nike's apparel business last year, up from 8 per cent in 2008.
Shenzhou's stock valuation is far higher than that of rivals such as Yue Yuen Industrial Holdings Ltd, Crystal International Group Ltd and Regina Miracle International Holdings Ltd. Shenzhou is trading at nearly 24 times earnings estimated for 2018, against 12 times for Yue Yuen, 10 times for Crystal and 13 times for Regina Miracle, Bloomberg data shows.
Shenzhou's price-to-book (P/B) ratio of 5.35 is more than thrice that of the peers. As of Friday's close, Shenzhen was the only China-based consumer-products company whose projected P/B value traded at a premium to the five-year P/B average.
Shenzhou's share price has lost more than 18 per cent from its peak in late August, under-performing the broader Hang Seng Index. Yet 29 in 30 analysts tracked by Bloomberg still have an equivalent of a "buy" rating on the stock, with a consensus 12-month price target representing a nearly 30 per cent gain from current prices, Bloomberg data shows.
The most recent "buy" recommendations come from Morgan Stanley, Credit Suisse and JPMorgan analysts; each has affirmed their ratings made since Oct 22. JPMorgan analysts said in an Oct 23 report that they expect Shenzhou to become a long-term winner in the textiles industry; it is second only to China Mengniu Dairy Co in a ranking of Greater China consumer stocks.
Shenzhou is benefiting from increasing sales from Nike and Adidas in China. Bloomberg Intelligence said in an October report that China-based suppliers for Nike and Adidas will likely produce and sell more at home as trade uncertainties weigh on overseas order growth. About two-thirds of Shenzhou's recent revenue came from Adidas, Nike and Uniqlo-owner Fast Retailing Co.
By introducing more automation into its factories, Shenzhou was able to lessen the impact of higher labour costs in China, it said in its interim report. Its net income margin of nearly 21 per cent last year was the highest since 2004 as its total staff costs as a proportion of income declined by about 2 percentage points in the first half. The net income margin of Yue Yuen, Crystal and Regina Miracle ranged between 4 per cent and 7 per cent in the last fiscal year, Bloomberg data shows. BLOOMBERG


text:
Will the Kingdom Hearts Timeline Get Even More Complicated?
Kingdom Hearts fans can expect another game in the series to come out before a fourth mainline Kingdom Hearts releases, according to Square Enix’s Tetsuya Nomura.
“As for the next Kingdom Hearts, there will be at least one KH title that will release before a ‘KH4’,” Nomura reportedly said in Kingdom Hearts III’s Ultimania, which is basically a detailed KH3 guidebook that released on Thursday.
After the first two mainline games came out there were several plot-relevant, unnumbered games that launched such as 358/2 Days and Coded. These games are likely what lead to the franchise getting its current infamous reputation for having a…complicated story (to say the least).
In order to fully understand the plot of KH3, one would have to either watch a plot breakdown on YouTube or playing seven unnumbered games that all take place in specific parts of the series timeline. Here’s hoping that whatever Nomura is planning won’t make things even more complicated for gamers to follow.
Interested in getting KH3? Be sure to read our review before purchasing the game.
What do you think of this news? Let us know your thoughts in the comments section below.


text:
Page 1 of 44 Next »
11 May 2021
ACG has written the introduction to the World Trade Review's 2021 Anti-counterfeiting and Online Brand Enforcement Guide.
10 May 2021
Amazon said Monday it blocked more than 10 billion suspected listings of counterfeit goods on its platform last year as part of a global crackdown in the face of pressure from consumers, brands and regulators.
30 April 2021
Over 500 Border Force Officers from across the UK have been trained this week as the Anti-Counterfeiting Group (ACG) continue to engage with its members and enforcement partners through the pandemic.
27 April 2021
THIS £2.5million haul of fake goods is just one shocking example of how criminal gangs have exploited the Covid crisis to flood Britain with bogus designer items.
26 April 2021
Today, Monday 26 April it's World Intellectual Property (IP) Day which celebrates creativity, and the continual contribution made by creators and innovators. This annual event aims to raise greater awareness of how trademarks, designs, copyright and patents have such an important bearing on society, business and consumers.
21 April 2021
Last week, M&S lodged an intellectual property claim with the High Court against Aldi and its Caterpillar cake. The retailer has three trademarks relating to Colin the Caterpillar, which it believes means Colin has acquired and retains an enhanced distinctive character.
19 April 2021
This year World Intellectual Property (IP) Day is on Monday 26 April. The ACG celebrate the event every year because it recognises the role intellectual property rights (patents, trademarks, industrial designs, copyright) play in encouraging innovation and creativity.
17 April 2021
Met officers have seized £2.5 million worth of suspected counterfeit clothes and electronic devices after they opened up 22 shipping containers in Ealing. Following information received by Trading Standards of counterfeit goods being stored at an address in Enterprise Way in Southall, warrants were executed on the morning of Thursday, 15 April
26 March 2021
As COVID19 restrictions ease in the UK, shoppers are not only looking to buy chocolate eggs over the holiday but also gifts for their family or friends. The Anti-Counterfeiting Group (ACG), Facebook and the UK Intellectual Property Office’s Intelligence Hub are joining forces in another collaborative campaign,
Page 1 of 44 Next »
ACG represents more than 3,000 brands affected by this influx of fakes into the UK and delivers an international network of information, advice and contacts on all aspects of IP protection. Working with Government and law enforcement agencies since 1980, ACG is focused on providing an effective and sustained response to counterfeiting.
Membership with the ACG is the best way to work with government and enforcement bodies to protect your brand. Our Roadshows and training days help you reach out to police, trading standards and border force officers and tell them about your genuine products.


text:
The Xbox Live Indie Games scene has suffered its share of setbacks and issues over the last few months, what with last year's disastrous dashboard debacle and the recent ratings manipulation scandal. However, we finally have some good news for the dedicated and hardworking community.
Microsoft have added a new feature to the peer review system that allows developers to manually choose a release date for their titles that automatically takes effect when their app passes review. This brings the system in line with the Windows Phone 7 app marketplace, and should help to avoid scheduling conflicts as well as putting an important element of control into developers' hands. Where it belongs, quite frankly.
You can read the full details over at the XNA App Hub.


text:
KC Bier Co. Will Release Its 2018 World Beer Cup Medal Winner In Bottles
KC Bier Co. was the only brewery in Kansas City to win a medal at the 2018 World Beer Cup, and now it's releasing that beer for sale in bottles, the Kansas City Business Journal reports.
The brewer won a silver medal on May 3 for its Winterbock lager in the German-style Doppelbock or Eisbock category. Earning a medal at the World Cup is a huge accomplishment because it’s considered one of the world’s most prestigious beer contests, with some of the toughest competition.
Winterbock is a dark, full-bodied lager with caramel, chocolate and coffee malt flavors, warming alcohols, low bitterness and a slightly sweet finish. It’s a seasonal offering that will be released on tap and in six-packs of 12-ounce bottles on Nov. 12. It will be available through mid-February.
Read the rest of the Kansas City Business Journal's story here.


text:
A mother is speaking out after eating poppy seeds while pregnant caused her to be investigated by child protective services.
Starbucks workers at more than 100 stores staged a one-day strike to protest the company's refusal to negotiate.
Dems Falsely Lambasted JD Vance for 'Great Replacement Theory' -- Yet Watch What Chuck Schumer Just Said
'Now more than ever, we’re short of workers, we have a population that is not reproducing on its own with the same level that it used to.'
Even as organized labor begins to make a foothold in the internet giant's warehouses, workers could be making themselves obsolete.
'Most Democratic operatives would tell you they’re pro-union, but they’d question the efficacy of it for a campaign.'
Army Pilot Reluctantly Gets Vaccine and Then the Real Trouble Started - He May Never Be Able to Fly Again
Hard to imagine authority figures in President Joe Biden’s military being upset with someone who didn't blindly obey their every desire.
In the midst of a serious global energy crisis, French refinery workers walked out on strike, making everything worse.
The price of butter is sky-high and with the holidays coming, producers are trying to confront the butter shortage throughout the US.
The company's reduction of its workforce by 11 percent was made even worse by some disturbing language in the CEO's announcement.
Breaking: Rail Union Rejects Offer - Economic Disaster That Would Cost Nation $2 Billion Per Day Looms Closer
T'he cost will grow geometrically the longer the strike lasts,' an analyst said. 'After a week, you'd see real damage in the US economy.'


text:
The Mercedes-Benz presented on Wednesday, March 19th, the S 63 AMG Coupe. The sports version of the S-Class Coupe follows the recipe of the models prepared by AMG, the high performance division of the German mark.
Already known performance division of Fiat Group, Abarth also showed a novelty at this Geneva Motor Show: the 695 Biposto. According to the company itself, it is the fastest model Abarth has produced, at least among those legalized for the street.
The EC7 first Chinese automaker Geely car to be sold in Brazil had its price announced on Tuesday (11): R $ 49,900. According to the brand, the arrival of the sedan market is scheduled for the month of March.


text:
Facebook’s Internet.org initiative, which offers free access to a selection of internet services, has met severe resistance from digital firms in India. Initially, about 40 services had signed up for the initiative but most of them later abandoned the service and favoured net neutrality.
Mark Zuckerberg today fought back in a statement on his Facebook page saying that net neutrality is not in conflict with working to get more people connected.
“We fully support net neutrality. We want to keep the internet open,” Zuckerberg says. “Net neutrality ensures network operators don’t discriminate by limiting access to services you want to use. It’s an essential part of the open internet, and we are fully committed to it. Universal connectivity and net neutrality – can and must coexist.”
Making a strong case for Facebook’s initiative, he says, “Eliminating programs that bring more people online won’t increase social inclusion or close the digital divide. It will only deprive all of us of the ideas and contributions of the two thirds of the world who are not connected.”
Zuckerberg also clarified that Internet.org doesn’t block or throttle any other services or create fast lanes – and it never will.
In India, Facebook has already rolled out free basic services on the Reliance network to millions of people in Tamil Nadu, Maharashtra, Andhra Pradesh, Gujarat, Kerala and Telangana.
The whole net neutrality issue flared up in India due to Facebook’s launch of Internet.org in the country as well as a controversial data package deal from local telco Airtel. That plan, called Airtel Zero, would allow users to enjoy free data to access a selection of mobile apps. It had signed up the likes of Flipkart for the service, but most of them later withdrew in support of net neutrality.
Here’s what some of the poster boys of India’s startup ecosystem have to say on this hot-button topic:
Mahesh Murthy, partner, Seed Fund:
“Saying that net neutrality and Internet.org can co-exist is moral equivalent of saying freedom and slavery can co-exist. Internet.org is not the internet for poor people. It is Facebook for poor people with some other minor players thrown in: Babajob for jobs (not Naukri) and Bing for search (not Google). It’s the ‘poor internet for poor people.’ Look at it another way – it’s just a way for Facebook to recruit more users that they can sell ads against. That’s it.”
“NetNeutrality is not a middle class problem – it is a problem for all internet users, just like zero rating plans like Airtel Zero and Facebook Internet.org are a problem for all internet users. Zuckerberg may have dreams and visions – but the way to achieve them is not by exploiting the poorest of the poor – giving them an ugly, stunted and unbalanced selection of a few products and denying them the full power of the internet.”
Sachin Bansal, co-founder of Flipkart
“I spend time and money helping startups in India. Will never support things which suffocate innovation. We will be working towards ensuring that the spirit of net neutrality is upheld and applied equally to all companies in India irrespective of the size or the service being offered and there is absolutely no discrimination whatsoever.”
Kavin Bharati Mittal, founder, Hike
“I am extremely pro net neutrality. At the same time, we also must realize that this is India, not the US, not China. Over 60 per cent of our population lives on less than US$2 per day. Our market dynamics are very different from the rest of the world. We cannot simply copy/paste what’s worked and what’s not worked in those markets. We must to give room to both sides of the industry to experiment to bring the cost of the internet down significantly for the one billion plus population in India without blocking, throttling or discriminating against any service, with the basic principles of net neutrality intact. Because at the end of the day that’s what matters. Bringing over a billion Indians online.”
Vishal Gondal, founder, Goqii
“The internet is built on the premise that the best product wins. By giving preferential treatment to some apps, it changes this equation. Bad for the ecosystem just like a Walled Garden approach which killed the value-added services business. I hope Telecom Regulatory Authority of India (TRAI) sees consumer interest and not act against net neutrality.”
Satyan Ganjwani, CEO, Times Internet
“We support net neutrality because it creates a fair, level playing field for all companies – big and small – to produce the best service and offer it to consumers. We will lead the drive towards a neutral internet.”


text:
A quarter of UK customers are struggling with their food bills as grocery inflation soared to its highest level ever recorded.
In the four weeks to February 19, 2023, grocer inflation hit a record high of 17.1% according to the latest Kantar grocery market share data.
Fraser McKevitt, head of retail and consumer insight at Kantar, said customers were struggling as food bills increase by an average of £811 a year.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.


text:
We are one month into 2020 and we are seeing high quality business growth across all of Chatham-Kent. Thanks to a combination of new investment, fresh perspectives, and steps towards a strong digital footprint, one area that is seeing a special kind of resurgence is Downtown Chatham.
To highlight a few examples of positive change we need to look no further than three businesses which are re-investing in the downtown: Collins Clothiers, Kniaziew Optometry, and Art and Heirloom Shoppe.
Upon opening their new store, Collins Clothiers has seen an upswing in demand from a variety of markets, but specifically from the wedding market as brides and grooms prepare for a busy wedding season.
Kniaziew Optometry is currently in the process of renovating the new location so they can offer a full-service office that includes pre-testing, eye exams, and the largest dispensing area in Chatham-Kent. Their on-site lab ensures patients get both timely and quality service. Watch for their grand opening in the spring.
Not to be outdone, the Art and Heirloom Shoppe is not only growing to a larger downtown location, but they have also taken advantage of the Digital Main Street grant thanks to the support provided by the Chatham-Kent Economic Development Digital Service Squad and the Small Business Centre.
“Helping our downtown bricks and mortar stores improve their digital footprint is exactly the purpose of the Digital Service Squad and we are thrilled that the Art and Heirloom Shoppe has been able to take advantage of the program,” said Andrew Tompsett, Chatham-Kent Economic Development.
As we have said, 2020 is looking to be a busy year. Watch for more news of change and growth across all of the downtown areas of Chatham-Kent.
One final note, we want to send a special welcome to Alison MacLean, the new Office Manager at The Historic Downtown Chatham BIA. We know you'll continue on the great work and help to build a strong and vibrant community.


text:
Meat provider Widam was recently honoured with an international quality award in Geneva.
Mahmoud Bassam Issa, representing Widam as its deputy supply chain manager, received the Century International Quality Era award from BID (Business Initiative Directions) in the platinum category on behalf of the company.
“We are extremely honoured to receive the coveted award from an organisation such as BID, which puts quality above everything else. The accolade accentuates the relentless efforts and commitment of our team at Widam,” said Ahmed Nasser Sraiya al-Kaabi, Widam managing director and CEO.
BID was founded with the aim of sharing quality culture in leading companies worldwide. The annual awards honour outstanding standards of quality and service, with this year’s edition bringing together hundreds of stakeholders from various fields.
In 2012, Widam was recognised at the 16th International Star for Quality in Leadership Convention in France, adding yet another accolade to four recognitions from Meat & Livestock Australia for quality management.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Airport security working to enforce smart traveller system
AAB hosts Qatar's `first of its kind' treasure hunt
Shops fined for violations at Souq Al Haraj
NU-Q to celebrate graduation ceremony in new building
Sweden's 'Little Doha' attracts Qatari families
Sheikh Thani opens town for orphans
Emir holds phone talk with Jordanian king
Armed Forces training exercise Citadel 3 ends
Minister is appointed president of Qatar University alumni association


text:
In Charlestown’s former Hood dairy plant, just outside downtown Boston, an unusual venture is taking root: a tech startup that aims to revolutionize American agriculture.
Indigo Ag, which makes seed treatments to help vital crops grow, said Tuesday it has raised $250 million in new venture capital investments, one of the largest funding rounds for a private company in Massachusetts this year.
Indigo is now worth $3.5 billion, more than three times what it said it was worth when it last raised money a year ago, said a person with knowledge of the company. It has now raised more than $650 million.
The company coats the seeds of corn, cotton, rice, soybeans, and wheat with symbiotic microbes that can help plants absorb nutrients and survive challenging conditions with fewer chemicals. Indigo says its products improve the yields of the crops by up to 14 percent.
In an interview, president and chief executive David Perry attributed the strong interest in his company to the clamor for innovation in the agricultural industry, decades after the “green revolution” changed the way the world fed its growing population.
“It’s arguably the world’s most important industry. Every human being on the planet depends on it multiple times a day,” he said. “And it’s really the last of the big industries to not be disrupted by new technologies and business models.”
Though years of industrial agriculture have increased the amount of food that can be grown, Perry argues that it has also divorced many plants from natural microbes that help them grow. By restoring those relationships, Indigo said, the company’s technology can further boost production even in situations where water is scarce.
This year, the company has also been pushing an initiative to change the way grain is sold.
Indigo has developed a marketplace that allows food manufacturers and other large crop buyers to purchase crops that meet higher quality standards than those set by commodities markets.
For instance, Indigo said a buyer could specify that he or she is looking for wheat that has been primarily supplied with rain water and has high protein content. Such a distinction would be difficult to achieve in a commodities market that uses much broader requirements for quality, and where shipments from multiple farms are often mixed together.
Farmers can list products for sale even if they aren’t grown from Indigo seeds, though Perry said the marketplace is a crucial part of the company’s strategy because it gives Indigo a platform to sell what it believes are distinctive products.
The marketplace opened to buyers and sellers in June, and thousands of farmers have signed up, Perry said. Buyers have submitted bids worth more than $2 billion, he said.
The company was founded by the Cambridge biotech investment firm Flagship Pioneering in 2014. It says its crops are already growing on about 1 million acres across the United States.
Indigo has sped the adoption of its technology by offering to buy the crops from growers at a premium over the market price of comparable crops. It then resells the harvests to buyers looking for natural or sustainable products.
Andy Rosen can be reached at email@example.com.


text:
< previous part  |  next part >
The Community of Commerce
The new global economic system ties Northwesterners to an unlikely group of international partners
Muslim cleric Mohamad Joban never expected, when he trained in Egypt, to help speed the international flow of french fries.
But the global economy assembles a diverse cast of characters.
One snowy day last January, Joban emerged from an 18-seat Metroliner plane in Pendleton and adjusted his white kufi, a skull cap, against the frigid breeze. He stepped onto the windswept airstrip, an exotic figure in his thobe, a flowing robe worn by Muslims.
“They took me in a special plane from Sea-Tac,” said Joban, an Indonesian who spends most of his time counseling prisoners near Olympia. “They showed me how to proceed.”
Joban had never toured a french fry factory, but he knew his mission. He would examine the J.R. Simplot Co.’s plant in Hermiston to see whether it deserved the coveted Halal certification needed for exporting food to Muslim countries, including Indonesia.
A Halal stamp would become another strand in a growing web binding the Northwest to the world. The economic web, spun largely during the region’s export and investment boom in the early 1990s, remained all but invisible until Asia’s catastrophes brought it suddenly into view.
A month after Jobans visit, the Simplot plant would process a batch of potatoes grown by Hutterite farmers in Eastern Washington and bound for Indonesia. By January, the tubers grown in Circle 6, one of the sect’s irrigated circular fields, were piled 20 feet deep in a climate-controlled warehouse longer than a football field. A young man from the Hutterite colony checked on the potatoes, alive and emitting heat, each day.
Lola DuPuis, a 20-year worker for the J.R. Simplot Co. in Hermiston, culls defective french fries from a batch bound for Indonesia. A Muslim cleric inspected the plant to ensure that fries were processed according to religious standards.
The task of preparing McDonald’s fries involves a remarkably broad spectrum of cultures, religions and traditions, considering the unfailing uniformity of the fries themselves. By the time these spuds were done, they would have been grown by members of a Germanic sect, sanctified by Muslims, transported by Protestants and consumed by Jews and Chinese converted to Catholicism in Asia.
All of those along the french fry chain participated while retaining their beliefs and traditions. But each would be changed by links to the global economy.
Northwest businesses had to become more sensitive to Asian cultures as exports soared during the past decade. Millworkers who once cut 2-by-4s converted to saw traditional Japanese posts and beams. Farmers who once manhandled fruit crates learned to pamper individual apples for exacting customers in Asia.
Simplot managers wanted the nod from Joban to boost their exports from Hermiston, which already exceeded 220 million pounds a year. A Halal certificate, much like the Jewish kosher designation, would assure Islamic customers that Simplot prepared fries according to strict Muslim tenets.
“The problem is that when a product comes from a Western country,” Joban said, “most Muslims doubt that it’s Halal.”
* * *
Workers at the J. R. Simplot Co. plant in Hermiston cut blemishes from washed potatoes. The plant, which employs 650 people, is one of many Northwest plants targeting Asian markets.
Potato patriarch J.R. Simplot, who founded the company that bears his name, built the mammoth Hermiston plant for $15 million in 1977. The factory, designed specifically to produce McDonald’s french fries, is one of 11 fry plants in the Columbia Basin owned by big food-processing firms.
Exports from Hermiston grew so fast that in 1990, Simplot launched a barge on the Columbia River to carry what growers and processors call “Mac fries” to Portland. He named the vessel Esther L., after his wife. In a blind taste test that year, McDonald’s’ chose Hermiston fries as the world’s best, a model for all other plants.
Simplot’s company, which makes more Mac fries than any other producer, sends 4 million pounds of frozen french fries to Asia each week. The company commands between 30 percent and 40 percent of the international fry business.
Simplot himself usually refuses to wear the hair net required for visitors to the Hermiston plant, which runs 24 hours and employs 650 people. But Joban politely accepted one.
He inserted orange ear plugs. He walked onto a vibrating catwalk above a hissing vat of potatoes.
The factory is a torture chamber for spuds. Scalding steam explodes brown skins. Workers with stubby knives gouge out black spots.
High-pressure water blasts potatoes at 35 mph through a pipe into brass blades arranged in a quarter-inch grid.
Laser-guided knives whack imperfections from the raw shoestring fries. The fries cook in a blancher and dry in a dryer. They partially fry at 380 degrees, flash-freeze at 75 degrees below zero and shake on a stainless-steel screen.
Mechanical jaws grab the fries and drop them into brown paper bags. Machines squish the bags to remove excess air and pass them through a metal detector.
Correctly processed, an extra-long fancy fry will be soft inside from boiling and crisp outside from baking and frying. It will have an audible crunch without tasting dry. Unless it happened to come from a potato’s watery core, it will stand erect in a cardboard packet.
Industry veterans say they can taste whether a fry came from a potato grown in the Columbia Basin, Idaho’s Treasure Valley or North Dakota’s Red River Valley.
The Hermiston plant’s success in penetrating Asian markets came as Northwest exports soared, leading national growth. Between 1990 and 1997, annual shipments abroad from Oregon blasted off, doubling and exceeding $10 billion a year.
The export take-off, coming atop the Northwest’s rapid high-technology development, helped diversify a regional economy that once depended on timber, fish and unprocessed farm products. The point of the game was to add value to goods—selling milled lumber, for example, instead of raw logs—to create better-paying jobs at home.
French fries worked just this way. Simplot bought raw potatoes for about a nickel a pound. As fries, they were worth 30 cents a pound by the time they reached Northwest ports. The difference went to U.S. salaries and corporate revenues, rippling through the economy at cash registers across the Northwest.
Food processing is a potent economic force. Hire 1,000 workers for a new potato-processing plant in Washington state, and about 3,250 new jobs will result in other industries ranging from construction to restaurants.
In 1991, Washington’s food-processing industry surged past lumber and wood products and became the state’s second-largest manufacturing employer, behind transportation equipment. Food processors added $2.45 billion to Washington’s $4.38 billion of agricultural production that year.
Northwest companies that didn’t plan to go international often were forced into it. Columbia Basin farmers once supplied 40 percent of U.S. french fries. But in 1996, Canadian fry producers more than doubled their production. They flooded the U.S. market with fries sold at attractive prices for weak Canadian dollars.
The Simplot factory is a torture chamber for spuds, which hit knives at 35 mph and become french fries. Once a month, workers clean the plant and switch to vegetarian oil to make Halal fries for Muslim customers in Asia.
The Canadian influx pushed Simplot to close one of two inefficient french fry factories in a Caldwell, Idaho, complex, where 340 people lost their jobs, and a plant in Grand Rapids, Mich. The company halved production in Heyburn, Idaho, laying off 377 people.
More than ever, Simplot counted on Hermiston, its main pipeline to Asia. Other Northwest spud processors also shifted to aim their fries at Asia as American chains expanded.
Customers flocked to T.G.I. Fridays in Taipei, the Hard Rock Cafe in Tokyo and McDonald’s outlets throughout the Far East. From 1993 to 1997, sales of U.S. frozen potatoes in the Far East nearly doubled to $265 million.
Fries were so popular that they muscled into unlikely places. In Thailand, even Pizza Hut served them.
The Northwest export boom went bust in late 1997 as Asian customers, battered by falling currencies and tight credit, slowed orders. Japan, Oregons biggest foreign customer, cut purchases by almost a quarter at one point, causing some of the first layoffs in the state due to Asias woes.
But McDonald’s, the Hermiston potato plant’s main customer, managed to increase its market share in Japan’s cutthroat fast-food market. So the factory continued at full throttle, even as Southeast Asian shipments faltered.
As Imam Joban moved through the plant, he learned that workers cleaned it thoroughly once a month. They unlocked padlocks on special pipes that substituted vegetarian soybean oil for the usual beef-based oil, a switch essential to Halal certification. Muslims can eat certain kinds of meat, but only if a devout Muslim slaughters the animal.
Veteran workers could tell by the distinctive vegetable-oil aroma when the plant was producing Halal fries for export to Indonesia and Singapore.
Joban approved the Halal certification, to the delight of Simplot managers. “I observed everything in the plant,” he said, “even the small, small things.”
But as Joban visited the Hermiston plant, his home country, Indonesia, descended into panic.
* * *
French fries took center stage in a bit of bizarre theater on Jan. 12 in Jakarta. Indonesia’s finance minister, eager to stop the rupiah’s six- month slide, faced a crush of television cameras in Jakarta with a red-and-white sign that said: “I love the rupiah.”
Prominent business tycoons, some in dark suits and others in batik shirts, pulled sheaves of $100 bills from their wallets, exchanging them for rupiah. Among them was Bambang Rachmadi, head of McDonald’s restaurant franchises in Indonesia. He changed $30,000 into rupiah.
Rachmadi said his outlets were deleting french fries from Value Meals because the imported potatoes had to be bought in dollars. The patriotic gesture caused consternation at Simplot headquarters.
A formal color photo of Rachmadi and his wife graces the interior of every McDonald’s in Indonesia. But the man who makes sure the fries arrive on time is Angus Karoll, a 27-year-old Australian who first saw J.R. Simplot profiled on Australia’s “60 Minutes” television show.
Karoll thought Simplot was the coolest guy in the world. He sent him a detailed proposal for distributing french fries throughout Indonesia, a sprawling country of about 17,000 islands.
Company officials put the young man in charge of warehouses spanning a distance equivalent to that between Portland and Boston.
Karoll found himself hiring a staff of 50, refilling warehouse coolant at midnight, answering 2 a.m. phone calls from Boise and cajoling barge captains to carry french fries to far-flung islands.
The business took off with the rise of fast food. Indonesia’s upwardly mobile population attracted Kentucky Fried Chicken, California Fried Chicken, A&W, Churchs and Wendy’s.
McDonald’s had opened 100 outlets by last year and planned to double that this year. Instead, when the rupiah plunged, Rachmadi closed 15 outlets.
Karoll struggled to cut expenses as the warehouse power bill jumped 30 percent because of climbing fuel prices. He flew back and forth to Boise, ensuring that the home office remained committed.
Most Indonesians cared more about food staples. As prices soared, customers lined up 20 deep at cash registers to buy sugar, rice and cooking oil before yet another increase.
The International Monetary Fund, the world’s economic emergency-room doctor, had already launched a $23 billion bailout for Indonesia.
The IMF wrote its standard prescription. It lent money on the condition that Suharto’s administration cut government spending and raise interest rates. The theory was that high rates would attract capital to Indonesia and slow the money flowing out, shoring up the rupiah. High rates and tight credit would also slow domestic spending, reducing imports and boosting exports. Ultimately, the theory went, the rupiah would steady, and interest rates would come down.
But Suharto balked, fearing social unrest and damage to family businesses. His resistance sapped confidence at a critical moment, spooking currency dealers, who worried that the IMF would back out.
They sold off rupiahs, forcing up prices. Indonesian stocks fell as investors doubted that companies would be able to pay off their foreign-currency debts.
McDonald’s sales tumbled. One restaurant advertised an “IMF packet,” just the basics: iced lemon tea, Filet-O-Fish, no fries.
The IMF, for trying to help, became the object of derision in much of Southeast Asia. Nationalistic critics claimed the West was seizing the chance to mold Asia in its image.
Lamenting the Westernization of Asia was nothing new. McDonald’s became a ready symbol for critics as the chain swept Asia. Nutritionists blamed fast food for increasing flab in Japanese as they switched from a diet based on rice and fish.
Some social commentators depicted Westernization as a new form of cultural imperialism. Some predicted the emergence of a homogenous, global culture that would wipe out local distinctions.
But although McDonald’s might have helped Westernize Asia, Asia also transformed McDonald’s.
Asian customers converted McDonald’s outlets into leisure centers, after-school clubs and meeting halls. McDonald’s franchisees invented the soy-flavored Teriyaki McBurger in Japan, the McSpaghetti in the Philippines, the chili-basil pork burger in Thailand and the mutton-based Maharaja Mac in India.
Harvard anthropologist James Watson chronicled the transformations in a 1997 report, “Golden Arches East.”
The main menu item that never changed, Watson found, was the french fry.
* * *
On Feb. 24, 1998, a month after Mohamad Joban certified the Hermiston potato plant, the tubers from Hutterite Circle 6 arrived at the scrubbed-down factory.
The potatoes rumbled along a portable red conveyer belt made by Spudnik Equipment Co., an Idaho company founded in 1958 after the Soviet Union launched the Sputnik satellite.
The spuds joined more from a handful of other farmers. About 60 tractor-trailer loads of tubers arrive at the plant each day. Farmers, who negotiate contracts with processors long before planting, don’t usually get paid until a month or so after delivery.
The Hutterite potatoes shot through the pipe and became Mac fries.
Lola DuPuis, a swing-shift worker at the plant, gazed at the relentless river of raw fries. She knew next to nothing of the Asian crisis, whose ripple effects were depressing company earnings around the world. That day, Nike Inc. confirmed that it would lay off hundreds of workers as Asian retailers bought fewer shoes.
But after 20 years at the plant, DuPuis knew french fries. She tended them five days a week from 4 p.m. to midnight, earning $8.41 an hour. She ate them at the McDonald’s outlet in town. And she bought them at the company store to keep frozen at home.
DuPuis spotted a piece of wire in the mix and grabbed it. Relieved at first, she felt a flash of irritation. Once, a green rubber glove made it all the way to Japan. A foreign object is anathema in a process geared for perfection.
Processors strive to make 40 percent of their A-grade fries more than 3 inches long to meet exacting industry standards. To satisfy McDonald’s, another 40 percent of the fries must be more than 2 inches.
The entire process on Line 4, from fresh Circle-6 Hutterite spuds to frozen fries, took 45 minutes. Boxed and shrink-wrapped, the fries waited in Simplots’ refrigerated warehouse, ready for export to Indonesia. Next, the fries would enter a chain of freight-forwarders, bankers, truckers, longshoremen, shippers, agents, importers and franchisees.
But the climate for shipments had drastically changed in the months since the potatoes were planted.
Exports of Oregon agricultural goods in 1997 dropped 14 percent from the year before, after years of steady increases. The Columbia-Snake Customs District, remarkable nationally for its longtime trade surplus, logged a $1.1 billion deficit.
Foreign investors pulled out, too, reducing the flow of capital that courses through the global economy.
One of the first casualties was a planned factory in Boardman that would have converted rejected french fries into ethanol. The ethanol would have been shipped to South Korea to make soju, a potent traditional drink.
South Korean distillers, strapped by the currency crisis, escalating debts and government restrictions on foreign investment, backed out as lead investors in the proposed $34 million plant.
In the spring of 1998, Northwest companies ranging from Mentor Graphics to Louisiana Pacific blamed Asia for lower earnings. Nike went on to lay off 1,600 workers, mainly because of Asias turmoil.
For the Northwest and the nation, it was just the start of the fallout from Asia.
< previous part  |  next part >


text:
SAN FRANCISCO (MarketWatch) -- EMI Group uk:emi expects Apple Computer Inc. AAPL, -5.04% to increase the price of popular songs and cut those by unknown acts on its iTunes Web site within a year, according to a published report Wednesday. The chief executive of EMI Music, Alain Levy, said EMI had discussed the issue with Apple CEO Steve Jobs and believed Apple planned to end its single-price policy for iTunes music, the Wall Street Journal reported on its Web site. "We are having discussions which make us believe it will happen in the next 12 months," Levy reportedly said at a press conference in London for the company's half-year profit results. "There is a common understanding that we will have to come to a variable pricing structure. The issue is when. There is a case for superstars to have a higher price."
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.


text:
Consumers Union recently published a scorecard rating 50 states on their consumer protection laws, complaint handing, online consumer resources and protections against abusive lending.
The results are in and they’re decidedly mixed for Washington.
While the state got high marks for online consumer resources and online transparency of state enforcement, it scored poorly in other areas.
It got a “C” for complaint handling. In the category that looked at the strength of laws on unfair and deceptive practices, the state got a “D” in enforcement potential and an “F” in consumer access to justice.
The scorecard also rates states on how well they protect consumers against abusive interest rates for small-dollar loans, and fails a state if a certain loan’s APR is higher than 36 percent. (That’s the cap Congress placed on small loans made to active-duty service members). Washington failed for a typical payday loan (a two-week $250 loan carries a 390 percent APR). It passed on auto title loans (which are prohibited), and passed on a typical $1,000 one-year loan with a 33 percent APR.
To read a summary of your state’s rating, click here (PDF, 49 pp).


text:
LEGO PHASES OUT BOYS AND GIRLS TOYS, STONEWALL WANT TO GO FURTHER
Last time I checked, there were still men’s and women’s clothing sections at M&S. For some reason, though, such common sense often goes out the window as soon as children are involved.
The latest target in the endless battle against ‘harmful gender stereotypes’ is toys.
Is it not a sign of the times that LGBT people get their own LEGO set, but sets for boys and girls are banned?
It goes without saying that some stereotypes can be harmful. But all too often those behind these campaigns and initiatives want to do away with distinctions of sex altogether. LEGO, for instance, has said it will no longer label any of its products ‘for girls’ or ‘for boys’. On its website shoppers can no longer search for products by sex.
Earlier this month, California became the first US state to force large retailers to display toys and childcare items in ‘gender-neutral’ ways. Toy shops may still have separate aisles for girls and boys toys, but by law, stores with more than 500 employees must also have a gender neutral aisle as well.
A report on gender stereotypes last year said that referring to children as “boys and girls” was an “unnecessary division” that creates stereotypes.
Stonewall in the media spotlight
According to the Daily Telegraph, Mirror and Daily Mail, leading gay rights group Stonewall is telling teachers to avoid dividing children into “boys and girls”. They recommend mixed-sex PE, the same school uniforms and using the term “learners” instead of “boys and girls”. They want to go the whole hog. Stonewall’s website strenuously denies it’s telling teachers to drop the terms “boy” and “girl”.
A vast amount of information is coming out about Stonewall’s tax payer funded activities following the jaw dropping Nolan Investigates podcasts. It’s remarkable investigative journalism by the BBC’s Stephen Nolan and David Thompson. We will be sure to keep you up to date about what is being uncovered.
Real marriage rests on the difference between male and female and the complementarity between the two sexes. It benefits no one if these differences are papered over. Removing the labels from toys won’t change the tastes of boys and girls, though it will make shopping less convenient. But there’s a bigger picture here – the erasure of male and female in our society. C4M stands against this and all that it means for marriage.


text:
Chinese delegation is preparing to visit U.S. for trade talks
"China's team is preparing to go to the United States for the new round of high-level economic and trade consultations," said Geng Shuang, spokesperson for the Chinese Foreign Ministry, at a regular press briefing on Monday.
Geng made the response after U.S. President Donald Trump said he would raise tariffs on 200 billion U.S. dollars' worth of Chinese goods this week.
"China hopes the trade talks can achieve positive progress, and that the two countries meet each other half way to get the benefits of the two countries and the expectation of the international community," noted Geng.
"We hope China and the U.S. achieve a mutually beneficial agreement based on mutual respect," added Geng.


text:
Coca-Cola Co. has been targeted by a class action lawsuit accusing the company of lying about the ingredients it uses in its signature Coke soft drink.
Plaintiffs George Engurasoff and Joshua Ogden allege in the Coke class action lawsuit that Coca-Cola has been deceiving consumers by failing to mention that the beverage contains artificial ingredients. In some cases, they argue, the company falsely promises that the soft drink is free of artificial flavors and preservatives. Specifically, the plaintiffs are concerned about phosphoric acid, an artificial and man-made chemical that is used as both a flavoring and preservative.
“Such false statements and omissions violate both federal law and California state law and render these products legally misbranded and illegal to manufacture, distribute or sell to consumers,” the Coca-Cola class action lawsuit says.
Engurasoff and Ogden claim that Coke’s marketing is governed by the federal Food, Drug and Cosmetics Act (FDCA), which prohibits companies from selling products whose labels do not accurately reflect the ingredients. Because the FDCA’s provisions have been adopted by California’s Sherman Food Drug and Cosmetic Law, the plaintiffs allege that Coca-Cola has violated California law as well.
“Defendants are well aware of the health concerns of consumers and knowingly and intentionally engage in such unlawful conduct to deceive consumers and increase products,” the class action lawsuit says. According to the plaintiffs, Coca-Cola’s website indicates that the company uses phosphoric acid in certain soft drinks, “to add tartness to the beverage.” However, the company insists that the ingredient is “one of the basic elements of nature.”
Engurasoff and Ogden argue that Coca-Cola’s claims are misleading because phosphorous and phosphoric acid are different chemicals. They claim that phosphoric acid should be classified as an artificial flavoring under the FDCA because it provides flavor but is not derived from natural sources.
According to the class action lawsuit, the term “artificial flavoring” is defined under federal law to mean “any substance, the function of which is to impart flavor, which is not derived from a spice, fruit or fruit juice, vegetable or vegetable juice, edible yeast, herb, bark, bud, root, leaf or similar plant material, meat, fish, poultry, eggs, dairy products, or fermentation products thereof.”
The plaintiffs allege in the Coca-Cola class action lawsuit that they each purchased more than $25 worth of Coca-Cola products over the last four years. They relied on Coca-Cola’s label, which stated that the product has “no artificial flavors. no preservatives added. since 1886.” They claim that they would not have purchased the products had they known that the products were improperly labeled in violation of state and federal law. The plaintiffs believe that millions of Americans have been deceived by the company’s false labeling.
By filing the class action lawsuit, the plaintiffs are seeking to certify a nationwide class of consumers who purchased Coca-Cola products. They seek an injunction that would bar the company from continuing its allegedly illegal marketing practices. They are also seeking compensatory and punitive damages, restitution and disgorgement to the plaintiffs and Class Members.
The plaintiffs are represented by Ben F. Pierce Gore of Pratt & Associates.
The Coca-Cola Class Action Lawsuit is George Engurasoff, et al. v. the Coca-Cola Co., Case No. 1:13-cv-03990, in the U.S. District Court for the Northern District of California.
UPDATE: On May 21, 2014, Coca-Cola Co. asked the U.S. Judicial Panel on Multidistrict Litigation to consolidate this case with five other Coke class action lawsuits, saying the plaintiffs’ claims are all substantially similar.
UPDATE 2: On May 19, 2016, a federal judge dismissed some false advertising claims against Coca-Cola but will allow other claims in a class action lawsuit to go forward.
UPDATE 3: On July 5, 2016, plaintiffs in a large-scale multidistrict litigation over Coca-Cola marketing practices are alleging that the beverage behemoth is resorting to stall tactics to delay an artificial ingredient lawsuit.
UPDATE 4: On July 19, 2016, the judge denied a motion by Coca-Cola to put the class action lawsuit on hold.
Top Class Actions is a Proud Member of the American Bar Association
LEGAL INFORMATION IS NOT LEGAL ADVICE
©2008 – 2016 Top Class Actions® LLC
Various Trademarks held by their respective owners
Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.


text:
GuiaGarrafon is a site that aims to let consumers call out the bars and pubs in Spain that are serving drinks made from adulterated or unauthentic ingredients.
Stark honesty is never in short supply where the crowds are involved, delivering a hefty dose of transparency to operators of hotels, ski resorts, and playgrounds, to name just a few. The latest to join the list? Spain’s bars and pubs, which are the focus of GuiaGarrafon, a site that aims to let consumers call out the ones serving drinks made from adulterated or unauthentic ingredients. Now in beta, Madrid-based GuiaGarrafon focuses on giving users a way to report Spanish bars and pubs that serve poor-quality drinks made from adulterated ingredients. This is a growing problem in Spain, according to GuiaGarrafon founder José Ignacio Diez, who told the Yorokobu blog that part of his aim in exposing such establishments is to motivate them to change. Users of the site can also add positive reviews for bars serving authentic products, and IP controls are in place to keep voting fair. Thanks to the power of the crowds, unethical practices are being stamped out across a variety of industries and markets. How could you embrace the trend for a transparency triumph of your own? Spotted by: Leticia Pérez Prieto


text:
Yesterday we announced the rebrand of our company, logo and website. Today, we’re excited to announce a $3M strategic investment from Mintel and SPH Ventures, and unveil our Ad Graph.As media consumption and dollars shift to a fragmented digital ecosystem, media buying decisions are increasingly complex. Pathmatics aims to be the source of truth in digital marketing intelligence by creating trust and transparency.
Today’s announcements include:
- Strategic investment from Mintel and SPH Ventures — Mintel Group is a world leader in consumer, market, product and competitive intelligence, delivering omni-channel media monitoring services and competitive strategy expertise through Mintel - – Comperemedia. SPH Ventures is the corporate ventures arm of Singapore Press Holdings, Asia’s leading media organization, which includes The Straits Times. Mintel and SPH Ventures join existing investors Upfront Ventures, BDMI, Baroda Ventures, Daher Capital, and Karlin Ventures.
- Company and product refresh — Pathmatics revealed a new brand identity to better reflect the company’s personality, values, and mission to turn the world’s marketing data into actionable insights. The branding refresh comes on the heels of aggressive expansion of the company’s go-to-market and marketing initiatives. Pathmatics is also changing the name of its flagship product, AdRoutes, to Explorer.
- Ad Graph — With its Ad Graph, Pathmatics is continuing to bring greater transparency and simplicity to the market. The company’s graph of interconnected insights makes it easy to query, explore, and understand relationships and connections in digital advertising data. To do this, Pathmatics goes beyond standard digital ad intelligence to provide unprecedented visibility into industry-wide data, creative, and competitors.
You can read the full release here, and be sure to keep up with us on Facebook, Linkedin, Twitter, and the Pathmatics blog for more company updates.
With over a decade of experience across digital marketing, content, creative, and PR, Sarah is a creative and dynamic thinker who loves to delight clients with unique and relatable content. Sarah graduated from UC Berkeley with a BA in Sociology.